Ofelia is thankful to God for giving her a source of income. Being a single mother, she has had to fight and struggle through life in order to support her family. Today she is requesting a loan so that she can invest in the purchase of merchandise. This will increase her sales and generate the income she needs for her son’s treatment.
Ofelia se siente agradecida con Dios por regarle una fuente de ingresos, debido a que por su condición de madre soltera le ha tocado luchar y guerrearse la vida para sostener a su familia.
Hoy se encuentra solicitando un crédito que invertirá en la compra de mercancía con el fin de incrementar sus ventas y generar los ingresos que necesita par el tratamiento de su hijo.
Important InformationThis loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.
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